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Nov. 30, 2012

Rosemont Realty Partakes in Largest Office Acquisition in Albuquerque

By Camelia Bulea, Associate Editor

Rosemont Realty LLC has recently acquired Pinetree Corporate Center, consisting of five multistory buildings totaling 204,229 square feet of Class B office space in Albuquerque.

This marks the largest office real estate acquisition in the Duke City this year, in terms of square footage, reports the New Mexico Business Weekly. Built between 1975 and 1980, the office complex is currently 80 percent leased. Among its tenants are names such as New Mexico State University, The Manuel Lujan Agencies, National American University, Webster University and Brookline College, adds the local publication.

The Pinetree acquisition increases the company’s portfolio in the greater Albuquerque area to 42 properties totaling approximately 2.1 million square feet of commercial space.

It seems that the company’s shopping spree does not end within the city’s limits. Rosemont Realty has recently announced four other office deals in in Denver, Houston, San Antonio and Birmingham, Ala, adding 720,000 square feet of office space to its national portfolio.

According to the New Mexico Business Weekly, the four new deals include:

  • One Federal Place – a 300,012-square-foot Class A office building in Birmingham, Ala.;
  • Cole Center at Denver West – 167,205 square feet of Class A office space in three buildings in Denver;
  • One Thousand Oaks – 140,946 square feet of Class B office space in San Antonio;
  • Ashford East – a 112,368 square foot Class B office building in Houston.

Photo rendering of Pinetree Corporate Center, courtesy of Rosemont Realty LLC

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